Norden Group LLC Purchases New Stake in Monster Beverage Co. (NASDAQ:MNST)

Norden Group LLC purchased a new stake in shares of Monster Beverage Co. (NASDAQ:MNST) in the first quarter, Holdings Channel.com reports. The firm purchased 37,632 shares of the company’s stock, valued at approximately $2,231,000.

Several other hedge funds also recently modified their holdings of MNST. Vanguard Group Inc. grew its holdings in shares of Monster Beverage by 0.9% in the fourth quarter. Vanguard Group Inc. now owns 63,682,310 shares of the company’s stock valued at $3,668,738,000 after acquiring an additional 550,293 shares in the last quarter. Wellington Management Group LLP boosted its stake in Monster Beverage by 20.3% in the 3rd quarter. Wellington Management Group LLP now owns 19,515,062 shares of the company’s stock worth $1,033,323,000 after purchasing an additional 3,296,466 shares during the period. Clearbridge Investments LLC grew its stake in Monster Beverage by 2.9% during the fourth quarter. Clearbridge Investments LLC now owns 11,622,228 shares of the company’s stock valued at $669,557,000 after acquiring an additional 330,740 shares in the last quarter. Capital Research Global Investors grew its position in shares of Monster Beverage by 40.6% during the 4th quarter. Capital Research Global Investors now owns 10,478,380 shares of the company’s stock valued at $603,659,000 after purchasing an additional 3,026,657 shares in the last quarter. Finally, Norges Bank bought a new position in Monster Beverage in the 4th quarter worth about $517,035,000. Hedge funds and other institutional investors own 72.36% of the company’s stock.

Monster Beverage Trading Down 0.4 %

MNST opened at $49.16 on Friday. Monster Beverage Co. has a 1-year low of $47.13 and a 1-year high of $61.22. The firm’s 50 day simple moving average is $51.98 and its two-hundred day simple moving average is $55.16. The company has a market capitalization of $51.21 billion, a PE ratio of 30.92, a PEG ratio of 1.95 and a beta of 0.76.

Monster Beverage (NASDAQ:MNST) last released its earnings results on Thursday, May 2nd. The company reported $0.42 EPS for the quarter, missing analysts’ consensus estimates of $0.43 by ($0.01). Monster Beverage had a return on equity of 20.74% and a net margin of 22.83%. The firm had revenue of $1.90 billion for the quarter, compared to the consensus estimate of $1.90 billion. During the same quarter in the previous year, the business posted $0.38 EPS. Monster Beverage’s revenue was up 11.8% on a year-over-year basis. Equities analysts forecast that Monster Beverage Co. will post 1.76 earnings per share for the current fiscal year.

Analysts Set New Price Targets

Several analysts have issued reports on the stock. JPMorgan Chase & Co. lowered shares of Monster Beverage from an “overweight” rating to a “neutral” rating and cut their price target for the company from $66.00 to $59.00 in a research report on Thursday, April 25th. Morgan Stanley reduced their target price on Monster Beverage from $65.00 to $60.00 and set an “overweight” rating on the stock in a report on Friday, June 14th. Wells Fargo & Company decreased their price target on shares of Monster Beverage from $65.00 to $59.00 and set an “overweight” rating for the company in a research note on Tuesday, June 25th. Piper Sandler lifted their price objective on Monster Beverage from $58.00 to $59.00 and gave the company a “neutral” rating in a research note on Friday, May 3rd. Finally, Truist Financial cut shares of Monster Beverage from a “buy” rating to a “sell” rating and decreased their target price for the stock from $65.00 to $46.00 in a report on Thursday, April 25th. Two research analysts have rated the stock with a sell rating, seven have issued a hold rating and thirteen have issued a buy rating to the company’s stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $60.05.

Insider Transactions at Monster Beverage

In related news, Director Mark Vidergauz sold 15,077 shares of the firm’s stock in a transaction on Tuesday, June 11th. The shares were sold at an average price of $51.85, for a total transaction of $781,742.45. Following the completion of the transaction, the director now directly owns 68,167 shares of the company’s stock, valued at $3,534,458.95. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In related news, Director Mark Vidergauz sold 15,077 shares of the stock in a transaction dated Tuesday, June 11th. The shares were sold at an average price of $51.85, for a total value of $781,742.45. Following the sale, the director now directly owns 68,167 shares of the company’s stock, valued at approximately $3,534,458.95. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Mark J. Hall sold 250,000 shares of the company’s stock in a transaction dated Friday, June 7th. The stock was sold at an average price of $52.22, for a total transaction of $13,055,000.00. Following the completion of the transaction, the director now owns 532,754 shares in the company, valued at $27,820,413.88. The disclosure for this sale can be found here. Insiders sold a total of 307,221 shares of company stock valued at $16,070,374 over the last 90 days. Company insiders own 7.80% of the company’s stock.

About Monster Beverage

Monster Beverage Corporation, through its subsidiaries, engages in development, marketing, sale, and distribution of energy drink beverages and concentrates in the United States and internationally. The company operates through three segments: Monster Energy Drinks, Strategic Brands, Alcohol Brands, and Other.